San Mateo-based Nazareth Enterprises, Inc., a privately-held, diversified investment firm, has completed the acquisition of two properties in the Madrone Business Park, located at 18705 and 18715 Madrone Parkway for $15.6 million, according to a July 21 announcement.
The properties consist of 60,000- and 120,000-square-foot flex buildings situated on 9.99 acres in Morgan Hill. Together with their property at 18735 Madrone Parkway, Nazareth now leases 332,500 square feet on the 20-acre parcel.
Nazareth was represented in the transaction by Abe Matar with Landmark Real Estate Services. The seller, a private equity firm, was represented by Stan Johnson Company.
“With their acquisition of the Paramit Building (18735 Madrone Parkway) late last year Nazareth is now one of the single-largest landlords in Morgan Hill,” Matar said. “As an experienced local, private company who understands the market, Nazareth is poised to deliver stability and growth opportunity to its tenants.”
